Form 26as disparity

Others 321 views 4 replies

Melko

Engineer

58 Points Posted on 10 March 2017

I have multi-option deposits (term deposits) in bank. 10% TDS towards interest earned on the deposits is being deducted by the bank. But, FORM 26AS does not include the latest payments towards TDS against deposits. The last two entries in Form 26AS shown is about two months ago.

I have requested the bank for a TDS statement which shows much higher amount than that which appears in Form 26AS? How do I ascertain the correct amount received as interest on deposits in such a case? It is tedious to tabulate and calculate the interest on each term deposit for a financial year.

For the purpose of filing tax return, Can I consider the bank statement for interest earned on term deposit or should I follow Form 26AS which is much less?

Replies (4)

Dhirajlal Rambhia

SEO Sai Gr. Hosp.

211715 Points Posted on 10 March 2017

" FORM 26AS does not include the latest payments towards TDS against deposits. The last two entries in Form 26AS shown is about two months ago."

Is it for current financial year? Wait for 4th Quarter TDS return to be filed by Bank.

Bala Pullaiah B

Salaried

179 Points Posted on 11 March 2017

Dear Sir

TDS payment will be done on monthly basis and returns need to be filed on quarterly basis. On processing the quarterly returns, TDS amount will be credited to your PAN. Please verify, till Dec'16 your interest is matching. For the Q4 due date for filing is 30th Apr 2017. After that you will get the credit. Wait till that time.

B Bala Pullaiah

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